GOLD PRICES jumped to 7-week highs just below $1770 per ounce Thursday afternoon in London after new data showed a record jump in US retail sales coincided with last month’s $1,400 Covid stimulus checks sent to most US adults.
“Retail sales explode [for] March as consumers use stimulus checks to spend heavily,” says CNBC after the new data showed a record 24.4% year-on-year rise in shopping and food services purchases.
Gold prices in China had earlier fixed in Shanghai at a premium over London quotes of more than $11.40 per ounce, the highest incentive for new imports to gold’s No.1 consumer nation in 5 weeks.
KEFI Gold & Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.